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6.26pm UPDATE: Bitcoin familiarity increases in USA

More than half a billion Americans say they are familiar with bitcoin Litecoin and Ethereum.

A new study publishedby the AICPA has revealed that more than 50 percent of all Americans are aware of cryptocurrencies, with 54 percent of respondents anticipating the crypto market to either remain stable or increase in value in the next year.

The survey also revealed that cryptocurrencies are set to constitute five percent of the total U.S. investment pool in the next year as retail investors enter the crypto market on a large scale.

Trading volume on Turkey's cryptocurrency exchanges surged Friday as the country's fiat currency plunged to record lows on economic jitters.

According toCoinMarketCap, volume at Turkish exchanges Paribu, Btcturk and Koinimjumped over the past 24 hours by more than 100 percent each. Absolute volumes are still relatively small at these exchanges, with Btcturk, the country's largest, handling $11.6 million in trades.

3pm UPDATE: Lawsuit against Ripple denied

On 10th August, a remand filed by plaintiff Ryan Coffey against defendants Ripple Labs, Inc. [Ripple], XRP II, LLC, an ancillary of Ripple, and Bradley Garlinghouse [CEO of Ripple] has been ruled over by the court.

Plaintiff initially filed the patent on May 3, 2018, accusing the aforementioned defendants after investing in XRP.

The lawsuit demanded remuneration for the plaintiff, awarding him for damages caused due to investing in XRP. It also demanded that XRP be subject to the California Corporations Code.

The lawsuit also alleged that Ripple Labs has “focused on how to create, maintain, and increase the value of XRP.” It also claimed that Ripple is not decentralized.

Bitcoin prices have slipped down further today (Image: CoinMarketCap)

13.50pm UPDATE: BTC hits a one-month low

On some exchanges, like the Europe-based Bitstamp, Bitcoin even spent some time under the $6,000 price level, as the order books on that exchange might have been too shallow to handle this influx of sell-side volume.

12.30pm UPDATE: Bitcoin prices could drop to $4,000

A Bloomberg analyst has predicted bitcoin prices could slump to as low as $4,000 should the cryptocurrency market continue to stagnate.

Mike McGlone, a Bloomberg intelligence analyst said:"Bitcoin is in dump mode, following the pump run-up on the potential for a U.S. ETF.

"It may not subside until revisiting good support near $4,000 -- last year’s mean."